financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Bitcoin Price Prediction: Where is BTC Headed This Week Following the Test of $64K?
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Bitcoin Price Prediction: Where is BTC Headed This Week Following the Test of $64K?
Oct 14, 2024 2:21 AM

Will crypto markets experience another week of low volatility and inactivity, or is Bitcoin about to break out and kick off “Uptober”?

On Oct. 14, analyst CrypNuevo told his 117,000 X followers that the week ahead should be good for price action.

“Weve seen aggressive moves in both directions, and they are being retraced,” he said before predicting that BTC will move higher this week.

Up or Down This Week?

The analyst highlighted a liquidation cluster to the upside between $63.5K and $65K, noting that there could be a possible shakeout first, especially at the start of the week, “but price should eventually head toward that area.”

$BTC Sunday update:

Quiet week ahead; it should be a good one in regards to Price Action.

Weve seen aggresive moves in both directions and they are being retraced. But Im looking for a move higher tho, ideally this scenario.

This is my analysis and plan for this week:

pic.twitter.com/4zwCDKBO9L

On Oct. 14, analyst Michaël van de Poppe echoed the sentiment, stating that there will probably be a couple of days of consolidation before predicting a move higher.

“A test of $64,000 will likely bring the big breakout we’re looking for. The build-up is massive.”

However, analyst CrediBULL Crypto painted a bearish picture, predicting a retrace back into the mid- to high $50K level before another bounce.

Over the weekend, analyst DonAlt examined both scenarios, stating that if BTC tops $65,000, “Id wager weve finally escaped the endless chop. However, if it falls back below $58,000, “more sadness awaits.”

“Im hopeful well go up after all this chop has ended.”

The Bitcoin Fear and Greed Index, which measures market sentiment, has returned to neutral at around 48 following a fall into fear late last week.

BTC Taps $64K

Things already appear to be bubbling up in crypto markets, with Bitcoin returning to a one-week high of $63,975 during Monday morning trading in Asia, according to TradingView.

The asset is still range-bound, however, and it needs to clear $64,000 for any of the bullish scenarios suggested by the analysts above to play out.

The next major resistance point is $66,000, where the asset was halted in late September.

“This week is primed for action,” said Bitcoin OG Kyle Chassé, who added, “In 6 to 8 months time, it won’t matter if you bought at $64K or $58K.”

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ripple (XRP) Price Soars 15% Daily, Flips Binance Coin (BNB)
Ripple (XRP) Price Soars 15% Daily, Flips Binance Coin (BNB)
Nov 29, 2024
TL;DR XRPs market cap hit $96.5B, with analysts predicting potential highs of $10 $13 if momentum continues. Nonetheless, the tokens RSI at 72 suggests it may face a short-term pullback. Ripples XRP has been the talk of the town in the past month, with its price jumping by over 200%. Earlier today (November 29), it pumped to a three-year high...
Celsius to Disburse Another $127M From Its Legal Recovery Account
Celsius to Disburse Another $127M From Its Legal Recovery Account
Nov 29, 2024
Bankrupt crypto lending firm Celsius has announced plans to distribute an additional $127 million to creditors. The company’s estate revealed that this distribution will be made from its “Litigation Recovery Account and will benefit claimants in specific classes. Distribution Details According to a November 27 filing, the funds will be disbursed to those with claims in classes 2, 5, 7, 8,...
Can Bitcoin’s Price Surge Above $100K? On
Can Bitcoin’s Price Surge Above $100K? On
Nov 29, 2024
Bitcoin (BTC) is still far from the overvalued levels that indicate the end of a bull cycle despite having rallied above $99,000 last week. According to on-chain data analyzed by CryptoQuant, the cryptocurrency can still surge past $100,000 to $146,000, the top target from a realized price valuation perspective. This perspective indicated the top price for BTC in previous cycles,...
Ripple Price Analysis: Can XRP Soar to $2 Soon?
Ripple Price Analysis: Can XRP Soar to $2 Soon?
Nov 29, 2024
Ripple’s price has been rallying rapidly over the recent weeks, making its way toward a new all-time high. Yet, there are some warning signs that could lead to a correction soon. By Edris Derakhshi (TradingRage) The USDT Paired Chart On the USDT paired chart, the price has been surging aggressively since breaking above the 200-day moving average, located around the...
Copyright 2023-2025 - www.financetom.com All Rights Reserved